David Beer

Breaking Ground

Developer, Owner

Breaking Ground portfolio

$175.7 million* – specialty 51.0%, elevator 48.0%; Manhattan 60.0%, Brooklyn 32.0%

347th largest portfolio by dollar value

1,076,679 sqft – elevator 75.0%, specialty 22.0%;

325th largest by SF

8 properties – Manhattan 25%, Bronx 25%

1004th largest

1,072 residential units – Brooklyn 63.0%, Bronx 19.0%

227th largest by residential units

Person Activity past 24 months:

Buyer signatory: 2 for $178.1 million

Borrower signatory: 5 for $417.5 million

Developer (new building or major alteration): 14.0 for 8,000 square feet

Top Ten Associated Companies:

NYS Housing Finance Agency (2), NYC Department of Housing Preservation and Development (2), Yosef Elishayev (1), Community Healthcare Network (1), Low Income Investment Fund (1), CenterSquare Investment Management (1), Principal Real Estate Investors (1), 60 Guilders (1), Enterprise Community Partners (1), City of New York (1)

Top Ten Associated People:

Yosef Elishayev (1), Robert M. Hayes (1), Molly Anderson (1), Emily Lehman (1), Dean Ravosa (1), John Carrick (1), Troy A. Koerselman (1), Russell Hubley (1)

Recent activity as company:

• Breaking Ground borrowed $120.8 million from NYS Housing Finance Agency for 1760 3rd Avenue, Carnegie Hill, Manhattan on January 02, 2025.

• Breaking Ground borrowed $163.5 million from Enterprise Community Partners and City of New York for 1760 3rd Avenue, Carnegie Hill, Manhattan on July 01, 2024.

• CenterSquare Investment Management, Principal Real Estate Investors and 60 Guilders sold 1760 3rd Avenue, Carnegie Hill, Manhattan for $172.1 million to Breaking Ground on July 01, 2024.

• Breaking Ground borrowed $13.2 million from NYC Department of Housing Preservation and Development for 455 East 142nd Street, Mott Haven, Bronx on September 26, 2023.

• Breaking Ground borrowed $14.1 million from Low Income Investment Fund for 202 West 24th Street, Chelsea, Manhattan on July 20, 2023.

• Breaking Ground borrowed $105.8 million from NYS Housing Finance Agency and NYC Department of Housing Preservation and Development for 97-04 Sutphin Boulevard and 97-04 Sutphin Boulevard, Jamaica, Queens on April 07, 2023.

• Community Healthcare Network sold 97-04 Sutphin Boulevard and 97-04 Sutphin Boulevard, Jamaica, Queens for $6 million to Breaking Ground on April 07, 2023.

• Common Ground sold 1766 2nd Avenue, 1768 SECOND AVENUE, 1768 SECOND AVENUE, Yorkville, Manhattan for $8 million to Yosef Elishayev on July 06, 2020.